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masha68 [24]
2 years ago
11

Liam wants to save $6,265 to purchase a car. if $4,000 is deposited into an account at 7.5% interest, compounded monthly, how ma

ny years will liam have to save until he has enough to purchase the car?
Mathematics
1 answer:
timurjin [86]2 years ago
5 0
To solve for time taken we use the compound formula:
A=P(1+r/100*n)^(n*t)
where:
A=future value
P=principle
r=rate
t=time
n=number of terms

6265=4000(1+7.5/(12*100))^(12t)
solving for t we get
1.56625=1.00625^12t
12t=72.0136
t=6.00 years
Answer: 6 years
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The sales of a grocery store had an average of $8,000 per day. The store introduced several advertising campaigns in order to in
oksano4ka [1.4K]

Answer:

Null hypothesis:\mu \leq 8000  

Alternative hypothesis:\mu > 8000  

z=\frac{8300-8000}{\frac{1200}{\sqrt{64}}}=2  

p_v =P(Z>2)=0.0228  

Step-by-step explanation:

1) Data given and notation  

\bar X=8300 represent the sample mean  

\sigma=1200 represent the population standard deviation  

n=64 sample size  

\mu_o =800 represent the value that we want to test  

\alpha represent the significance level for the hypothesis test.  

z would represent the statistic (variable of interest)  

p_v represent the p value for the test (variable of interest)  

2) State the null and alternative hypotheses.  

We need to conduct a hypothesis in order to check if the mean is higher than 8000, the system of hypothesis are :  

Null hypothesis:\mu \leq 8000  

Alternative hypothesis:\mu > 8000  

Since we know the population deviation, is better apply a z test to compare the actual mean to the reference value, and the statistic is given by:  

z=\frac{\bar X-\mu_o}{\frac{\sigma}{\sqrt{n}}} (1)  

z-test: "Is used to compare group means. Is one of the most common tests and is used to determine if the mean is (higher, less or not equal) to an specified value".  

3) Calculate the statistic  

We can replace in formula (1) the info given like this:  

z=\frac{8300-8000}{\frac{1200}{\sqrt{64}}}=2  

4) P-value  

Since is a one-side upper test the p value would given by:  

p_v =P(Z>2)=0.0228  

5) Conclusion  

If we compare the p value and the significance level assumed, for example \alpha=0.05 we see that p_v so we can conclude that we have enough evidence to reject the null hypothesis, so we can conclude that the mean is significantly higher than $8000.  

4 0
2 years ago
ASAP PLEASE HELP!!!
Mariulka [41]

Z score = (x -mean) /  standard deviation.

For this problem X = 50 cm.

Z-score = (50 - 49.2) / 1.8

Z score = 0.8 / 1.8

Z score = 0.44

Look up 0.44 on a z-score table.

0.44 = 0.6700

0.67 x 100 = 67% will be 50 cm or longer.

8 0
2 years ago
A student wants to report on the number of meals his friends buy each week. The collected data are below: 4 19 3 3 2 3 2 4 Which
lbvjy [14]

median;

i tried mean 3, and mean 5 is wrong for sure, meaning it is median

explanation

arranged least to greatest

2, 2, 3, <em>3, 3,</em> 4, 4, 19 (8 numbers)

3+3/2=3

median=3

4 0
3 years ago
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Erin owns $375 worth of comic book. She spends $15 every week on new comic books
padilas [110]
She would have $350 dollars left.
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Why might a student be proud if he or she memorized a famous speech?<br>​
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A student might be proud if he or she memorized a famous speech because it might mean a lot to them in a way. Memorizing a famous speech can have an impact on you and your life. That’s why there are famous speeches for a reason.

Hoped I help, plz mark as brainliest. If you can. :)

4 0
2 years ago
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